CinRx reloads with $73M to spawn more biotech startups, advance obesity drugs
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Biotech accelerator CinRx Pharma has secured an additional $73 million in financing to support its existing spinouts, created via its hub-and-spoke business model, as well as to pursue new programmes in areas with high unmet medical need.
The latest infusion of capital, which brings its total funding to $176 million, was raised from prior investors including industry insiders and high-net-worth individuals.
The new funding will enable CinRx to “replicate our proven asset selection process to identify and accelerate more promising new programs with high potential to impact patients’ quality of life,” according to Jon Isaacsohn, chief executive of CinRx Pharma.
Seven CinCos
To date, CinRx has created seven portfolio companies – so-called "CinCos" – of which five are focused on cardiovascular, metabolic or gastrointestinal disorders. Most notably, hypertension drug developer CinCor was acquired by AstraZeneca last year for $1.3 billion upfront. The other four spinouts – CinFina, CinDome, CinPhloro and vTv Therapeutics – are focused on treatments for obesity, gastroparesis, irritable bowel syndrome and hypoglycaemia, respectively.
CinFina’s four-candidate pipeline was in-licensed from Johnson & Johnson’s Jassen Pharmaceuticals unit and comprises two obesity assets in Phase I testing, along with a pair of preclinical programmes.
CinDome’s lead candidate is deudomperidone (CIN-102), a dopamine D2/D3 agonistdopamine D2/D3 agonist in a Phase II study of adults with diabetic gastroparesis; data are due next year.
CinPhloro was built to develop CIN-103, a small molecule, pulsatile-release formulation of phloroglucinol modified to require less frequent dosing. The candidate is in a Phase II trial in patients with irritable bowel syndrome with diarrhoea, which is expected to wrap in 2025.
The most advanced programme belongs to vTv Therapeutics, whose TTP399 – an oral, small molecule, liver selective glucokinase activator – is in a Phase III study as an adjunct therapy to insulin to manage hypoglycaemia in patients with type 1 diabetes.
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